' Florida Credit Card Debt Relief - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Florida Credit Card Debt Has Increased Slightly

For the first time in nearly five years, consumers seem to be spending more. The amount of credit card debt being accumulated by consumer around the country and in Florida has risen by an estimated 0.6 percent. This may not seem like much, but it could have implications as to the state of the economy.

What experts are unsure of is whether this is indicative of an overall improvement in the economy, or just people spending more on their credit cards. There have also been increases in student loans and in auto loans. The one major area of spending where there hasn’t been an increase is in home loans. This includes first-time borrowers and installment loans and revolving lines of credit secured by home equity.

Trends indicate that consumers are reducing their debt for everything but auto and student loans. This is being done through both positive and negative means. According to Equifax, one of the big three consumer credit reporting agencies, an increasing number of people are paying off their credit obligations. However, there are also people eliminating their debt through bankruptcy and foreclosure.

For some people to truly believe the economy is on the mend, people will need to be spending more money and using their credit cards more. However, it seems that there could be a “new normal” developing where consumers are no longer spending without thinking and living above their means. Theoretically, this may not bode well for investors and the stock market, but it could be encouraging to consumers that are looking to get rid of their credit card debt. Some Florida consumers may achieve debt freedom through filing bankruptcy. Having a fresh start financially may be just what many consumers need.

Source: slant.investorplace.com, Credit Card Debt Rises for First Time in 5 Years, No author, Aug. 30, 2013

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Can Filing for Bankruptcy Affect Your Job?

Filing for bankruptcy can be a challenging decision that is fraught with many concerns. Among them is the fear that...
Read More

Can You Cancel a Bankruptcy?

Bankruptcy is an option that can save individuals and businesses from financial ruin. However, the process can be a long...
Read More

Does Bankruptcy Clear Child Support Arrears?

Bankruptcy is a legal process that provides relief to individuals who cannot pay their debts. One common question among individuals...
Read More

Is Alimony Dischargeable in Bankruptcy?

One of the biggest concerns that people have when considering bankruptcy is the effect on their financial obligations, including spousal...
Read More

Should You File Bankruptcy Before or After Divorce?

Marriage and finances can be a tricky combination. Timing is also an issue when it comes to filing for bankruptcy....
Read More

What’s Better Bankruptcy or Debt Settlement?

The idea of being trapped in debt can be overwhelming and all-consuming. Financial struggles can happen to anyone through no...
Read More

Can I Keep One Credit Card During Bankruptcy?

The decision to file for bankruptcy is never easy. People considering this option often struggle with financial stress, debts, and...
Read More

How Does Inflation Affect Credit Card Debt?

Credit card debt can be overwhelming. This is especially true during times of inflation. What is Inflation? Inflation is a...
Read More

Can Personal Bankruptcy Affect My Business?

If you’re a business owner considering filing for bankruptcy, it’s important to understand how this decision impacts your business. From...
Read More

Can You File Bankruptcy with Money in the Bank?

Bankruptcy is a serious decision and has major consequences on your credit as well as your overall financial situation. If...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions